Capital

Westcoast Shareholders Get ‘Mini-Tender’ Offer

Westcoast Energy said it was notified last week that TRC CapitalCorp. (TRC) made an unsolicited “mini-tender offer” for up to fourmillion of Westcoast’s outstanding common shares at a per shareprice of C$23.50. A ‘mini-tender offer’ is an offer to purchase alimited number of shares of a company’s securities at below currentmarket prices.

May 22, 2000

GPM Buying Kinder Morgan NM Gathering Assets

Kinder Morgan Inc. agreed to sell the capital stock of MidCon Gas Products of New Mexico Corp., a wholly owned subsidiary, to GPM Gas Corp., a unit of Phillips Petroleum, for $20 million in cash. Closing is expected by year-end. MidCon Gas Products owns the Big Eddy and Logans Draw gathering systems in Eddy County, NM. The combined systems include 159 miles of four- to ten-inch pipe with average throughput of 50 MMcf/d. Richard D. Kinder, CEO, said the sale is part of Houston-based Kinder Morgan’s back to basics strategy to divest of non-core assets. Sale proceeds will reduce debt.

December 27, 1999

Cinergy, Duke Form Generation Partnership

A power generation partnership formed last week by CinergyCapital & Trading and Duke Energy North America LLC (DENA)marks Cinergy’s first step toward mending the hole in its defensesagainst huge summer power demand peaks. The two companies areteaming up to build three gas-fired power plants with 1,400 MW ofgenerating capacity.

October 11, 1999

Cinergy, Duke Form Generation Partnership

A power generation partnership formed yesterday by CinergyCapital & Trading and Duke Energy North America LLC (DENA)marks Cinergy’s first step toward mending the hole in its defensesagainst huge summer power demand peaks. The two companies areteaming up to build three gas-fired power plants with 1,400 MW ofgenerating capacity.

October 7, 1999

Pinnacle to Build 2,120 MW Palo Verde Gas Plant

Pinnacle West Capital Corp., the holding company for ArizonaPublic Service and 30% owner of the Palo Verde Nuclear GeneratingStation, is making the leap into natural gas in a big way,developing one of the largest gas-fired electric generatingfacilities alongside its Palo Verde switchyard.

October 1, 1999

Pennaco to Expand Powder River Presence

Pennaco Energy increased its capital expenditure budgetWednesday from $18.4 million to $26.5 million in a move intended tocapture the “hottest domestic onshore play” in the country. All ofthe revised budget will be invested in Powder River Basinoperations.

June 17, 1999

Packaged Ice Picks Enron for Energy Outsourcing

Packaged Ice Inc. plans to outsource energy management of 60U.S. ice manufacturing facilities to Enron Energy Services (EES).Enron will evaluate and implement capital projects related toPackaged Ice’s “private utility” to increase productivity andefficiency of the plants. Enron also will provide electricity ormanage energy procurement at the facilities.

May 14, 1999

ECT Developing California Power Plant

Tejon Ranch Co. signed an agreement with Enron Capital &Trade Resources Corp. to develop a power plant on its property atthe southernmost end of the San Joaquin Valley at the base of theTehachapi Mountains. The site is strategic because of the proximityof the California Aqueduct, existing major transmission lines, andthe Kern River-Mojave gas pipeline.

May 5, 1999

Statoil Energy Looking for ‘Strategic Partner’

With the amount of capital driving today’s energy companies,Statoil Energy recently announced it is searching for a partner tobolster its resource base. A spokesman for the Virginia-basedenergy marketer said the process is moving quickly and the companyhopes to find a partner by the end of the year.

May 3, 1999

Statoil Energy Looking for Strategic Partner

With the amount of capital driving today’s energy companies,Statoil Energy recently announced it is searching for a partner tobolster its resource base. A spokesman for the Virginia-basedenergy marketer said the process is moving quickly and the companyhopes to have found a partner by the end of the year.

April 27, 1999